Americans are diving deeper and deeper into the red. As of this month, outstanding consumer debt exceeded $4 trillion for the first time, according to the Federal Reserve. Relatively strong holiday spending, particularly in November, and increasing credit card debt added more than $41 billion in outstanding balances at the end of 2018, according to

If you’re paying your nanny cash under the table, you might catch heat from the IRS. It’s no secret that child-care costs are a massive expense for working parents. Families with infants pay a nanny an average of $580 a week, according to Care.com — or $30,160 annually. To put things into perspective, average tuition,

If you want to invest in individual stocks, you have to be ready to do your homework, CNBC’s Jim Cramer said on his show Thursday. The “Mad Money” host told a story from his childhood about how his father, “Pops,” began buying stocks of National Video through a tip that he received from his brother.

The economic slowdown in China will affect Oversea-Chinese Banking Corp’s ability to grow its loans business this year, the lender’s chief executive said on Friday. OCBC, the second-largest Singaporean bank by assets, reported a 9 percent increase in customer loans in 2018. That growth rate is expected to moderate this year amid greater uncertainties in

U.S. stock futures are pointing to a flat open on the final trading day of the week as investors digest soft economic data and monitor developing trade talks with China. As of 2:35 a.m. ET, Dow futures rose 7 points, indicating a flat open points. S&P 500 and Nasdaq futures traded barely above the flatline.

Any time you hear about a big fraud case involving many ripped-off investors, it’s a good reminder to think about your own situation. In other words, how well do you know your advisor or broker? In December alone, brokerage firms agreed (without admitting or denying guilt) to an aggregate $2.4 million in fines — and

For some taxpayers who face an unexpected tax bill, another hit could come with it: no way to pay what’s owed by the April 15 due date. With returns being prepared for the first time under new tax law, some people are getting caught flat-footed by owing money to Uncle Sam after past refunds or

A single Wall Street analyst is responsible for skewing the revenue picture of the whole stock market. UBS analyst Brian Meredith slashed his fourth-quarter revenue estimate for Berkshire Hathaway on Tuesday, bringing the consensus forecast down to $48.4 billion from $63.5 billion for the Warren Buffett-led company, according to data provider Refinitiv. Because of the

Karl Lagerfeld’s cat Choupette is reportedly set to inherit some of the Chanel designer’s estimated $195 million fortune. Chanel confirmed on Tuesday that Lagerfeld, who had been the fashion house’s creative director since 1983, had died at the age of 85 after a short illness. According to French magazine “Le Figaro,” Lagerfeld said in a

Stocks should rise a lot more if China and the U.S. strike a trade deal since that event is not fully priced into the market yet, according to a study conducted by Renaissance Macro Research. The firm estimates the S&P 500 has lost about 11 percent from trade tensions since January 2018, even with the

Domino’s on Thursday reported quarterly earnings and revenue that missed analysts’ expectations. Shares of the company plunged 8 percent in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $2.62, adjusted, vs. $2.69 expected Revenue: $1.08 billion vs. $1.10

Newly released court documents paint the clearest picture yet of what the joint health-care venture between Amazon, J.P. Morgan and Berkshire Hathaway is up to. The three companies created the still-unnamed, not-for-profit joint venture in January 2018. Since then, the venture, known as ABC, has named renowned surgeon, author and speaker Dr. Atul Gawande as

Wait, I owe the IRS? The first tax filing season under the new federal tax law is proving to be surprising, confusing — and occasionally frightening — for some Americans, especially those accustomed to getting money back from the government. Take Andy Kraft and Amy Elias of Portland, Oregon. The couple had grown comfortable getting

Most money conversations I have with my clients are really about values, hopes, dreams and, overall, making the most of their lives. When I ask a client how her granddaughter is, she won’t say “Great, her UTMA account was up 2 percent last month in a down market!” But that leads me to wonder about

The market has been rising since it hit “rock bottom” in December and there’s enough momentum in the United States economy alone to carry the cycle as global growth slows, top J.P. Morgan strategist Marko Kolanovic told CNBC on Wednesday. Kolanovic, whose calls have moved the stock market in the past, credited shifting policy in

Everyday Americans are being left behind because of President Donald Trump‘s tax cuts — and one solution could be to tax the rich, civil rights leader and two-time presidential candidate Jesse Jackson Sr. told CNBC on Wednesday. “There must be some kind of wealth tax,” the president and founder of the Rainbow PUSH Coalition said

U.S. stock futures were slightly higher Thursday, amid reports the U.S. and China have begun outlining a deal to end their protracted trade war. As of 1:45 a.m. ET, Dow futures rose 63 points, indicating a higher open of 78 points. S&P 500 and Nasdaq futures also climbed. Reports early Thursday morning said Washington and

CVS Health on Wednesday reported mixed fourth-quarter results. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $2.14, adjusted, vs. $2.05 expected Revenue: $54.42 billion vs. $54.58 billion expected For the full year of 2019, CVS forecasts adjusted earnings between $6.68

Samsung and Apple are increasingly losing their share of the smartphone market to China’s Huawei, according to new research, with consumers put off by the high price tags attached to their premium models. Market data released by tech research firm Gartner Thursday showed Huawei’s share of the smartphone market climbed to almost 15 percent in

If you want to speed that tax refund along, the process to do so begins long before you get in front of your CPA. That’s because having the right information when you file could make the difference between having your return processed in a timely fashion and grappling with delays. The IRS issues most refunds

Forget about that gigantic refund: What you really want from the IRS is a tax balance of exactly zero and no big check. That’s because hitting zero with the taxman — that is, neither owing a balance nor receiving a refund — is an indication that you paid exactly the amount of tax liability you

This is a developing story. Check back here for updates. Federal Reserve officials judged that a “patient” approach to interest rate hikes would be prudent as they continued weigh various headwinds to growth, according to meeting minutes released Wednesday. The central just released the summary of its policy meeting Jan. 29-30, with the market watching

Planning to use a 529 plan for your child’s private high school tuition? Not so fast. The massive overhaul to the federal tax code redefined the education investment funds. Now, the accounts can be tapped not just for college expenses but for K-12 private school tuition, as well. That means withdrawals for either purpose are

Palladium is outshining other metals due to tight supply and strong demand from the global auto industry, which needs increasing amounts of the metal to meet stricter emissions standards. The metals market, in general, has gotten a boost of bullishness on hopes for a trade deal and expectations that China’s economic stimulus is going to

Garmin reported quarterly results that beat Wall Street estimates on Wednesday on the back of higher demand for its smartwatches and navigation systems and forecast full-year revenue above expectations. Shares of the company rose 4.2 percent to $73.97 in light trading before the bell. Garmin, which started as a navigation device maker, has benefited in

Disney and Nestle have paused advertising on YouTube after reports of a pedophile network rampant in the comments of monetized videos, according to Bloomberg. Fortnite maker Epic Games has also paused some advertising, a spokesperson confirmed to CNBC. The controversy stems from reports that pedophiles have latched onto videos of young children, often girls, marking

Marie Kondo’s guiding principles — holding onto what brings you joy and letting go of the rest — can also apply to your paperwork. “This is another category of items that you should be dealing with,” said Tony Steuer, author of “Get Ready! A Step-by-Step Planner for Maintaining Your Financial First-Aid Kit.” “If you do

Freeport-McMoRan has struck gold. The miner’s shares surged on Tuesday in its fifth one-day rally of more than 5 percent since the beginning of the year. Ari Wald, head of technical analysis at Oppenheimer, says he doesn’t see a strong fundamental picture but the technicals support another rally from here. “It doesn’t fit any of

A Chinese state-run newspaper claimed in an editorial published late Tuesday that the U.S. faces greater pressure to resolve its ongoing trade war with China because failed negotiations would likely have major consequences for stocks worldwide. On Tuesday, the S&P 500 rose after U.S. President Donald Trump again indicated the world’s two largest economies might

Walmart is set to report earnings for the past holiday quarter before the bell on Tuesday. Here’s what analysts are expecting, based on a survey by Refinitiv: Earnings per share, adjusted: $1.33 Revenue: $138.7 billion Same-store sales in the U.S.: up 3.2 percent Last year, Walmart was targeting e-commerce sales growth of 40 percent. Analysts